Scotiabank, Sun Life partner to help wealthy Canadians invest in private credit
)'s asset-management division are partnering to tap into the demand from wealthy Canadians looking to invest in private credit, the firms said on Tuesday.
At the same time, affluent Canadian investors are increasingly looking for alternative investments as they look to add new sources of yield and return. More private capital providers and traditional banks are looking to offer credit to companies and consumers since the global financial crisis as heightened regulation and higher costs weigh on banks' lending and services businesses.
Some Canadian banks are also looking for new avenues of growth and are doubling down on the wealth management business as some other segments face challenges in an uncertain environment.
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